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1. The reason why the "elite" dropped the world price of oil down below $50.00 a barrel was to wage economic warfare against the Arab/ OPEC countries. "They" seek to bankrupt OPEC countries., especially the Iranians by cutting their revenues more than 75%. (Do you think that is why Mr. Chavez is so belligerent towards the USA?) Why would they do that? Because Iran and the other OPEC states are getting too strong and too wealthy. The Iranians are running an oil bourse, that effectively sidesteps the oil markets of New York and London. (My note. Even worse they are trading oil not for dollars but for other currencies such as the Euro. This is a direct threat to the western banking system.) According to Williams, this will not be allowed to continue. This is about control!! "What is happening today has been planned for years and there are other more nefarious motives, which will be outlined below.
2. The world reserve currency is the dollar and dollar denominated assets such as U.S. Treasury Debt. The Arabs have been recycling their petro dollars into U.S. Treasury debt for thirty five years. (My comment. The Arabs/OPEC have been financing our national debt. This is per agreement with the New York Banking establishment, and the U.S. Treasury. This arrangement has been part of the world order since the collapse of the Bretton Wood Agreement in 1971. This is now coming to an end.) Now that they are being bankrupted (intentionally) the OPEC/Arab states are no longer willing or able to buy Treasury Debt. Hence, the interest on the National Debt (which now exceeds 15 Trillion dollars?) is not being financed by foreign creditors. China, India and other Asian states are doing the same thing. "They are running from dollar denominated assets." Therefore, the Federal Reserve is now buying up all the Treasury Debt issued by the U.S. Treasury to cover the debt maintenance on the national debt. (My Comment: this is called monetization and it is highly inflationary.) (My note: to put this in perspective, the so-called bailout, which was really nothing but a heist without the guns, in the amount of 700 billion dollars, was actually in the amount of 8.5 trillion dollars. All of this sum represents more debt "created" by the Federal Reserve which is then added to the National Debt. In addition to being extremely inflationary, we will be paying interest ("tribute?") on this debt to the banksters in perpetuity.)
This year, 2009, the USA will face total financial collapse. The dollar will also collapse in value, and it will take years for the U.S.A. to recover.
Originally posted by AmethystSD
I wonder if anywhere is safe.